Cheapest Way To Transfer Money Between Ireland and Australia (2026)

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Every Irish person who moves to Australia sends money between the two countries several times: savings over when you land, wages home for the mortgage, and the big one when you sell up and leave. Do it through your bank and you lose 4 to 6% every time without being told. This guide covers the cheapest way to transfer money between Ireland and Australia in 2026, which service suits which job, and how to actually do it.

Why not just use the bank?

Because the fee you see is not the fee you pay. A bank charges a sending fee (€15 to 25), the receiving bank often charges another (AUD 10 to 15), and then the bank sets its own exchange rate 4 to 6% worse than the real one. That last part is where the money goes, and it never appears on a statement as a fee.

Here is what happened to me. I landed in Perth in 2013 with €3,000 and sent it from my Irish account to my new Commonwealth account. It took four days and cost me over AUD 150 between the charges and the rate. I did not even notice until a mate put me onto CurrencyFair a few weeks later and I ran the same transfer through their calculator. It was the last time I used a bank.

Over a two-year working holiday most people make four or five transfers. At bank rates that is AUD 400 to 600 gone for nothing.

The four services worth using

I have used all of these personally and thousands of people in the Irish Around Oz groups have too. Fees quoted are as of September 2026 and can change, so check the calculator before you send.

Which one, for which job

• Landing in Australia with your savings: CurrencyFair or Wise. Set it up before you fly so it is waiting when your Australian account opens.
• Sending wages home every month: CurrencyFair. The €3 flat fee beats percentage fees once you are sending more than about €1,000 a time.
• Spending in your first fortnight: Wise or Revolut card, topped up from Ireland.
• Bringing home a house deposit, a house sale or your super: TorFX. Ring them, agree a rate, and do not let it sit in a bank account waiting for the rate to “get better”.
• Paying an Irish mortgage from Australia: CurrencyFair set up as a regular transfer.

How to do your first transfer

1. Open the account online with your passport and an Irish address. Verification takes a few hours to a day, so do it before you need it.
2. Send euro from your Irish bank to the service’s Irish account by SEPA. That leg is free and lands the same or next day.
3. Exchange to Australian dollars at the rate shown. You can see exactly what will arrive before you confirm.
4. They pay out to your Australian account from their Australian bank, so there is no international receiving fee at your end.

Same steps in reverse for sending money home. Total time is typically 0 to 2 working days.

Questions that come up in the groups

Is it safe?

All four are regulated (Central Bank of Ireland, ASIC in Australia, FCA in the UK) and hold client money separately from their own. Tens of thousands of Irish in Australia use them. What is not safe is sending money to a “friend of a friend” who does cash swaps in the groups. Do not.

How long does it take?

Card top-ups with Wise or Revolut are instant. Bank-funded transfers are usually one working day, two at most. Large TorFX transfers settle in one to two days once the money reaches them.

Do I need an Australian bank account first?

To receive a transfer, yes. Open one online before you fly (most Australian banks allow this up to a year in advance), or use a Wise or Revolut card for the first couple of weeks.

What about PayPal or Western Union?

Both take 3 to 5% on the rate. They are the bank problem in a different jumper.

I am selling a house in Australia and moving home. What do I do?

Talk to TorFX before you exchange contracts. A forward contract lets you lock today’s rate for settlement day, so a 2% swing in the euro does not cost you €8,000 on a €400,000 sale. Also read claiming your super back and what to do when you are leaving Australia.

Some links on this page are referral links. They cost you nothing and often get you a better deal than going direct. Fees checked September 2026.

Ah go on, give it a share!